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Syngenta to divest sunflower hybrids in Hungary as condition for acquisition

The European Commission said it cleared the acquisition of the global sunflower seed business of US-based Monsanto by Syngenta of Switzerland on the condition Monsanto's sunflower hybrids in Hungary and Spain are divested.

Without the divestment of the hybrids, commercialized or under official trial, as well as the parental lines used to create the hybrids, the acquisition “would have removed a considerable and innovative competitor to Syngenta, reinforcing [its] market leader position”, the Commission said.

Syngenta has already offered to divest the assets to comply. (MTI – Econews)